STAM4000 - Level of Annual Sales Revenue - Statistics Assignment Help

Assignment Task

A firm's marketing manager believes that annual sales revenue for the firm next year can be modelled using a normal distribution with a (population) mean of $3.5 million and a (population) standard deviation of $0.3 million.

SHOW WORKINGS.

a) What is the probability that the firm's annual sales revenue will be less than $2.8 million?

b) Determine the level of annual sales revenue that has 98.5% of values above it. 
 

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